Bilt Reward, an AI-Powered platform raised $250M in funding at a $10.75 billion valuation, shaking up the housing market by turning rent payments into rewards through an innovative credit card program. This latest investment round, led by General Catalyst and GID, with participation from United Wholesale Mortgage, strengthens Bilt’s position in modernizing how Americans interact with housing payments.

From renters to property managers, the Bilt ecosystem has introduced a unique loyalty-driven model that aligns with shifting consumer expectations and the growing demand for meaningful financial benefits.

“What makes Bilt special isn’t just our scale, it’s the flywheel effect,” said Ankur Jain, founder and CEO of Bilt, in a letter. “More properties attract more merchants, which drives more value for residents and brings in even more properties. Our AI-powered commerce platform and deep merchant integrations make the entire ecosystem stronger with every new user.”

Transforming Rent Payments into Reward Powerhouses

Bilt revolutionized the way people see rent payments. Until now, rent has been the largest monthly expense for millions, but it has brought no returns. Bilt flipped that logic. It allows members to earn rewards on rent payments without charging property owners fees, which has fueled fast adoption across the US.

Notably, more than 4.5 million homes now participate in the Bilt Alliance network. Residents earn points with every payment and redeem them for travel, fitness classes, home décor, rent credits, and even mortgage down payments. This holistic view of housing spend redefines what a modern financial platform can offer.

Bilt didn’t just rely on its credit card product. It built a robust network. Thanks to strategic alliances with major property owners and operators, the company amplified its reach across diverse housing segments. The rewards model resonated with consumers, who quickly embraced the chance to earn from what had always been a cost center.

Moreover, Bilt created value for landlords, too. By integrating the platform into rent payment systems, property managers enhanced resident satisfaction, retention, and cost savings. This dual-benefit model became a cornerstone of Bilt’s rapid rise.

Credit Card Innovation That Drives Loyalty

The Bilt Mastercard transformed from a simple tool into a comprehensive financial bridge. It provided one-to-one point transfers to airlines and hotel partners, paving the way for aspirational travel. As Bilt prepares to launch Bilt Card 2.0 in partnership with Cardless, the platform will introduce a tiered structure: no-fee, $95, and $495 cards.

Each card tier expands access to rewards, strengthens brand loyalty, and introduces exclusive experiences. Bilt’s credit card now works as a broader loyalty instrument, fostering everyday use that extends well beyond rent payments.

The US housing market faces challenges, including high interest rates, tight supply, and mounting affordability concerns. Bilt’s system doesn’t just reward renters, it builds a bridge to homeownership. Users can convert rewards into mortgage credits or apply them toward student loans, creating financial flexibility.

This innovation couldn’t be timelier. In a climate where homeownership seems out of reach for many, Bilt provides users with a tool to convert routine expenses into future assets.

Expanding Reach, Amplifying Impact

Armed with $250M in new funding, Bilt will expand across more housing types, student housing, HOAs, and mortgage payments. The company also plans to scale its local commerce network, connecting renters to neighborhood perks that boost community spending.

Founder and CEO Ankur Jain emphasized that this is just the beginning. As the company prepares to migrate from Wells Fargo to Cardless by early 2026, Bilt will own more of its ecosystem and improve user experiences.

Bilt has done more than raise funding; it has rewritten the rules of the housing market. By treating rent payments as an investment in the future, it has empowered renters and reshaped neighborhood economics. Its new credit card strategy, broadening of rewards, and mortgage integration place Bilt at the forefront of fintech innovation.

As it scales toward processing $100B in housing payments, Bilt promises to turn every dollar spent on housing into a step toward something greater.

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